HighTower Advisors LLC Buys 40,668 Shares of Packaging Co. of America (NYSE:PKG)

HighTower Advisors LLC increased its stake in shares of Packaging Co. of America (NYSE:PKG) by 18.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 263,219 shares of the industrial products company’s stock after acquiring an additional 40,668 shares during the quarter. HighTower Advisors LLC’s holdings in Packaging Co. of America were worth $59,258,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SYM FINANCIAL Corp lifted its position in Packaging Co. of America by 3.1% during the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 42 shares during the last quarter. Mather Group LLC. lifted its position in Packaging Co. of America by 1.7% during the fourth quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock valued at $582,000 after purchasing an additional 43 shares during the last quarter. UMB Bank n.a. lifted its position in Packaging Co. of America by 3.9% during the fourth quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 44 shares during the last quarter. AlphaMark Advisors LLC lifted its position in Packaging Co. of America by 3.9% during the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock valued at $312,000 after purchasing an additional 52 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its position in Packaging Co. of America by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company’s stock valued at $370,000 after purchasing an additional 52 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

PKG has been the subject of several research reports. Citigroup increased their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Truist Financial restated a “buy” rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Wells Fargo & Company lowered their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Trading Down 2.9 %

PKG stock opened at $191.66 on Friday. The company has a market capitalization of $17.21 billion, a PE ratio of 21.46, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The firm’s 50-day moving average is $218.29 and its 200 day moving average is $222.85. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.61%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Packaging Co. of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.